Ciena narrows quarterly loss, shares rise 14%

SAN FRANCISCO (MarketWatch) -- Ciena Corp.
CIEN, -2.53%
shares climbed $1.74, or more than 14%, to $14.04 Thursday after the optical-networking company narrowed its fiscal third-quarter loss from a year ago. Before the market opened, Ciena said it lost $31.5 million, or 33 cents a share, on revenue of $435 million, compared with a loss of $110 million, or $1.18 per share, on $390 million in sales in the year-ago quarter. Excluding one-time items, Ciena would have earned 8 cents a share. Analysts surveyed by FactSet had forecast Ciena to lose 7 cents a share on $444 million in revenue.

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